CID Holdco, Inc. (DAIC) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed on January 13, 2026, by CID Holdco, Inc., a Delaware corporation and emerging growth company. The filing primarily addresses a change in the company's independent registered public accounting firm and references a subsequent press release regarding preliminary financial results.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity for the current period. However, it discloses historical financial statement errors related to material weaknesses in internal controls:
- Q1 2025: Cost of goods sold was overstated by $310,160, with a corresponding understatement of total operating expenses.
- Q3 2024 (Three and Nine Months): Cost of goods sold was overstated by $137,204, with a corresponding understatement of total operating expenses.
The filing notes that the predecessor auditor, Berkowitz Pollack Brant Advisors + CPAs, LLP ("BPB"), issued a report for the fiscal year ended December 31, 2024, containing an explanatory paragraph indicating substantial doubt as to the ability of SEE ID, Inc. (the pre-combination entity) to continue as a going concern.
Material Changes
Change in Certifying Accountant: Effective January 1, 2026, Carr, Riggs & Ingram, LLC ("CRI") acquired certain assets of BPB. On January 13, 2026, the Audit Committee dismissed BPB and appointed CRI as the new independent registered public accounting firm.
Internal Control Weaknesses: The company identified material weaknesses in internal controls over financial reporting for fiscal years 2024 and 2025, including:
- Failure to properly design controls over costs of goods sold and expense categorization.
- Inadequate staffing in the accounting department.
- Inadequate controls over the review of fair value calculations for SAFE notes.
There were no disagreements with BPB regarding accounting principles or auditing scope, other than the noted material weaknesses.
Guidance, Outlook, and Risks
Outlook: On January 20, 2026, the company issued a press release (Exhibit 99.1) containing preliminary and unaudited revenue results for the fourth quarter and full year 2025, as well as expected revenue for the full year 2026. Specific figures are not included in this 8-K text.
Risks and Contingencies: The primary risk highlighted is the history of material weaknesses in internal controls and the prior "substantial doubt" regarding the going concern status of the legacy SEE ID entity prior to the June 18, 2025, business combination.
Investor Verification Checklist
- Review the press release (Exhibit 99.1) for specific 2025 revenue results and 2026 guidance.
- Verify the remediation plan for the disclosed material weaknesses in internal controls over financial reporting.
- Confirm the status of the "substantial doubt" going concern opinion from the 2024 fiscal year in light of the 2025 business combination.
- Monitor the transition of audit responsibilities from BPB to CRI for the 2025 fiscal year.